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Land sold for development at Carrickpherish

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  • 28-09-2014 9:52pm
    #1
    jayboi
    Registered Users Posts: 752 ✭✭✭


    from WLR "A 37 acre site at the Carrickpherish Link Road in Gracedieu has received over €1.2 million at auction. This was the first auction of development land in Waterford for some time.The lands which were in receivership were sold for €1, 220,000 to local builder and developer Noel Frisby.It represented the first residental development land sale of any significance in Waterford in the last seven years.The lands were placed on the market at €750,000 and a further €470,000 was secured in bidding before being sold for €1.2 million.Selling Agent Des Purcell said "The sale may be seen as watershed in the local property market, as there would have been no buyers whatsoever in the last five years due to the negativity of the market."He added that it's a positive sign that four separate bidders came forward"

    Obviously money to be made in the market here. He must be the only house builder left in the town.


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    #2
    shockwave
    Registered Users Posts: 1,770 ✭✭✭shockwave


    I'd say he'll sit on it for a while, Waterfords property market is hardly recovering that much to need new houses.


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    #3
    nkay1985
    Registered Users Posts: 6,975 ✭✭✭nkay1985


    I think he'll start developing in a while. I don't think there are any houses left in Cnoic Caislean in Ballygunner which is the most recent development in the city. A sign has gone up on the Ballygunner hill for a 28 acre potential development site in the last week. People like to buy new houses.

    Things are definitely starting to turn locally. So if someone starts the process of applying for planning permission etc now, by the time those houses are actually built, there will be demand for new houses.

    Six months ago, I would have been very hesitant to say that we were turning any corner down here. It felt like all it would have taken was one more big blow and we could have been in big trouble for a long time but with the West Pharma announcement, Nypro going well, Genzyme expanding, possibility of Teva expanding again I have to say I feel a bit more confident. I hope it's not a false dawn.


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